Which is Better, Lab Grown Diamonds or Mined Diamonds?
For centuries, mined diamonds have been long desired and reigned supreme as a much sought-after luxury jewellery purchase. However, with emerging consumer attitudes and demands, the notion of luxury has taken on a different form today. Consumers are increasingly attuned to more conscious efforts and initiatives in place to opt for purchases that are on the environmentally-friendly side.
With the concept of conscious luxury growing, is the alternative lab grown diamonds – which are shaking things up in the diamond jewellery industry? They are currently accounting for an estimated 1% of the global market for rough diamonds today. Experts share that sales can climb up to a 10% share by 2030 – which points towards a significant potential in the rapid growth for lab grown diamonds.
So, the question is: mined or lab grown diamonds? Let’s find out more about what each type of diamond brings to consumers today.
How similar are mined or lab grown diamonds
Offering the same brilliance and sparkle, mined and lab grown diamond jewellery are beautiful, alluring gemstones that are loved and appreciated by many. Both are internationally certified and graded based on the same exact diamond grading standards, detailing the 4Cs (cut, colour, carat and clarity) carried out by diamond certification labs.
The only differentiating factor that sets them apart is how they are formed. Created billions of years ago, mined diamonds are formed deep within the Earth’s crust under intense heat and pressure. On the other hand, lab grown diamonds undergo two methods in state-of-the-art laboratories: High Pressure-High Temperature (HPHT) and Chemical Vapor Deposition (CVD). Both processes begin with a seed; HHPT diamonds are grown through replicated natural geological processes while CVD diamonds are formed using heated hydrocarbon gas.
When it comes to cutting and polishing, lab grown diamonds are treated the same as mined diamonds to transform its raw form into a stunning gem before reaching into the hands of retailers and consumers.
At the same time, the Federal Trade Commission (FTC) recently expanded the definition of diamonds in 2018 – to include lab created diamonds, instead of solely diamonds mined from the ground. Both diamonds also share the same chemical makeup as well as optical and physical properties; thus, the only real difference is the origin.
Co-existing in the same jewellery market
Nonetheless, the mined diamond is a very established market which will see continuous interest. The two types of diamonds would be able to co-exist in the jewellery space as they cater to different needs of customers.
There will always be a natural affinity towards mined diamonds – revered for its beauty and symbolism for many centuries. But the fast-growing trend for lab grown diamond is undeniable as it opens up an opportunity to offer sustainability, quality and value – purchasing factors that are gaining traction amongst consumers.
Star Carat diamonds: A new solution for millennials
For millennials who are new to purchasing jewellery, Star Carat diamonds represent a new solution which gives consumers the quality and brilliance, at a value that aligns with their lifestyle.
Recently launched in 2019, Star Carat diamonds are lab grown and graded under the same 4c diamond grading requirements as mined diamonds. Created through the CVD (Chemical Vapour Deposition) process, they are certified as Type IIA diamonds – which categorises them as the purest quality and high in value. Consumers can attain a purer, clearer and brighter diamond at just a fraction of the cost – which only 2% of mined diamonds are made of such exceptional chemical quality.
While Star Carat diamonds align well with the beliefs of consumers today, particularly surrounding sustainability and environmental impact; most of all, value-conscious consumers are compelled by the flexibility to ‘upsize’ in diamond size at 50% bigger – especially for couples shopping for diamond engagement rings, for the same price as mined diamonds.
More choice in diamonds
While consumers can continue to enjoy the intangible value conveyed by mined diamonds, lab grown diamonds have the opportunity to connect with today’s discerning customers and offer the ideal solution in their diamond-jewellery buying journey.
Whether lab made or mined, both diamonds remain to be beautiful gems that carry significant meaning in our lives. Diamonds have long represented the ultimate gift of love – and consumers now have more options in diamonds to convey their expressions of love.
Express your love with the gift of a diamond. Our Star Carat 1.0 carat diamond retails from $2,999 – now available in Star Carat Shop, SK Jewellery and Love & Co. For shopping on the go, visit us at www.starcaratshop.com.